The economic challenges the incoming Trump administration is facing are far and away greater than those confronted in 2016. From the cyclical standpoint, 2024 has far more in common with 2001. While structurally, there’s nothing close to this in generations. Amidst the election euphoria there needs to be sober analysis.
"4.6% was the level in the 10yr where I through the SPX on 22x P/E might begin to take notice." – Goldman
— zerohedge (@zerohedge) November 13, 2024
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